Business Directories

Masdar seals Jordan renewable energy deal

Abu Dhabi, January 16, 2013

Masdar, Abu Dhabi’s renewable energy company, said it has signed a framework agreement with the Jordanian government to play a prominent role in the development of clean and sustainable energy in the Hashimite Kingdom.

The agreement was signed during the sixth World Future Energy Summit (WFES), a global platform that addresses the future of renewable energy and sustainable development in the Middle East and the world.

WFES is a key element of Abu Dhabi Sustainability Week (ADSW), a 5-day initiative that also includes the third session of the International Renewable Energy Agency’s General Assembly, the first International Water Summit, the Zayed Future Energy Prize awards ceremony and the International Renewable Energy Conference.

In attendance at the summit was Queen Rania Al Abdullah of Jordan who delivered a keynote speech, underscoring the importance and growing commitment to renewable energy in Jordan and throughout the region.

Jordan, one of the Middle East’s most promising clean energy markets because of its new renewable energy feed-in tariff, has agreed to work with Masdar to realise its future energy ambitions.

The agreement details a collaborative plan for Masdar to strategically engage in Jordan’s transition from hydrocarbon reliance to a more diversified and secure energy mix.

“This agreement lays the foundation for Jordan to partner with Masdar and utilize our expertise to deploy renewable energy projects,” said Dr Sultan Ahmed Al Jaber, the CEO of Masdar.

“Jordan has identified the value and long-term benefits of investing in clean energy,” added Dr Al Jaber. “The country’s commitment is demonstrated by the recent establishment of a renewable energy feed-in tariff to support domestic clean energy projects.”

The agreement between Masdar and Jordan has two components. First, it will facilitate competitive tenders for renewable energy projects for Masdar in Jordan.

Second, the agreement will create a public-private partnership between the two parties allowing Jordan to consult directly with Masdar on the viability of domestic projects and leverage Masdar’s expertise in the delivery of those projects.

With domestic energy production and generation comparatively low, Jordan’s recent move to implement the Middle East’s first feed-in tariff, incentivising domestic growth in renewable energy, is a clear indicator of both its sustainable energy ambitions and its desire to develop more energy at home.

Jordan’s minister of energy and mineral resources Alaa Batayneh said the country's steadfast desire to navigate a path toward energy security and sustainability was of great national importance.

The renewable energy industry, he stated, was set to provide a significant boost to our economy as well provide a pathway to meet future energy demands.

“We recognise Masdar as a regional leader in the adoption and delivery of clean energy, and this agreement will support Jordan as we build a new energy industry, benefiting both our economy and society,” he added.-TradeArabia News Service